Firefly Aerospace falls as top shareholder to carve stake

Firefly Aerospace

26/05/2026 21:53

** Space and defense tech firm Firefly Aerospace FLY.O shares down 7% to $54.70 in extended trading on stock offering news
** Cedar Park, Texas-based firm commences 12 mln share offering with co selling 4 mln shares
** Entities affiliated with AE Industrial Partners looking to offload 8 mln shares, which would cut its stake by 5% to 31.7%, per the prospectus
** FLY intends to use net offering proceeds it receives for general corporate purposes, including core business growth and recently awarded programs and initiatives
** Goldman Sachs, J.P. Morgan, Jefferies, and Wells Fargo joint bookrunners
** FLY, which has ~160.2 mln shares outstanding, went public in Aug 2025 IPO priced at $45
** FLY's stock soared 18.8% to close at $58.81 on Tues as SpaceX's Starship largely successful test flight buoyed space stocks ahead of its hotly anticipated IPO
** At close, FLY's stock up 163% YTD including 70% surge QTD
** 7 of 10 analysts rate the stock "strong buy" or "buy", 3 "hold"; median PT $37, according to LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))